June 2023 Quarterly Activities Report

Paradox Lithium Project, Utah, USA

• Anson has expanded its flagship Paradox Lithium Project in Utah via the strategic addition of 586 claims that abut the north-western edge of the project area.
• Worley Group Inc. was appointed and has commenced the Front End Engineering and Design Study for the proposed lithium carbonate processing plant.
• Post the June quarter, Anson to purchase a lithium brine project from Legacy Lithium Corp. in the Paradox Basin. The proposed strategic acquisition will result in the Paradox Lithium Project becoming one contiguous mineralised block with an 8% increase in land area, to a total of 231.35 km2.

Green River Lithium Project, Utah, USA

• Letter of Intent signed for strategic acquisition of 140.39 acres (0.568 km2) as the site for the Green River Lithium Project's proposed future mineral extraction and processing plant. The proposed agreement includes water rights, as well as the oil and gas and mineral rights underlying the new landholding.
• The site also provides easy access to the national rail network, interstate road system and gas and power infrastructure, plus access to the Green River.
• Anson is undertaking a Geotechnical Engineering Study, consisting of core drilling and shallow trenching plus geophysical surveys, as part of due diligence for the proposed acquisition.

Corporate

• 41,482,012 ordinary shares were issued following conversion of listed options ASNOC and ASNOD. Total funds raised from the exercise of options was $1.7 million.
• Strong balance sheet with $38.6 million cash on hand at the end of the quarter.

Anson has a portfolio of minerals projects in demand-driven commodities, led by its core asset, the Paradox Lithium Project (Project) in Utah, USA. It is focused on developing the Project into a significant lithium producing operation.